Chief Credit Officer – Nashville Tennessee

Posted on March 4, 2011 by

ROLE DESCRIPTION

The CCO will be in charge of overall credit policy development and implementation, adherence to all policy and procedures and exception reporting. The CCO will oversee underwriting and structuring process, ensure initial funding verification and Credit Approval Request conditions are complied with,execution of legal documentation, implementation and maintenance of lien searches, and execution of first security interest including liaison with attorneys over subordination agreements, debtor credit management including maintenance of credit files. Work with SVP on preparation of monthly portfolio and board reporting as set out in the Policy and Procedures Manual and oversee activity in respect of clients being collected out. Responsibility for the training of staff regarding best practice, ensuring there are effective fraud detection and prevention programs in place and oversight of field examiners. The CCO will ensure that credit policies are maintained current, portfolio asset quality is maintained in line with operational objectives, clients comply with ongoing reporting requirements and the evaluation of such reporting.

KEY ACCOUNTABILITIES

 
• To ensure that the credit approval request has been prepared in line with Credit Policy and reflects a balanced and detailed assessment of the risk proffered from the proposed client relationship.
• To coordinate the client take on, underwriting and initial funding processes to ensure a timely and expeditious execution of a new business transaction in line with client’s expectations while remaining compliant with Credit Policy.
• To ensure all conditions set out in the Credit Approval Request are followed at the initial funding and that the initial funding complies with the Credit Policy.
• To ensure that a first security interest is enacted on all new facilities including the identification of liens, garnishments, other security interests and ensuring subordination and intercreditors are executed as appropriate.
• Ensure that credit resources are researched and assessed so that the company is utilizing best practice in credit research and assessment.
• To champion the Credit Policy and its adoption with the business unit.
• To implement and maintain excellent standards of customer service

 

 

 

 
• Coordinate and analyze results of due diligence searches, audits, and background reports. Where appropriate and in support of the new business staff and/or CCO meet and/or interview the prospective client’s management team onsite.
• Collate and review prospective client’s historical and projected financial statements, cash flows, tax returns, A/R agings and similar documentation ensuring accurately reflected in Credit Approval Request.
• Identify critical transactional/structural risks and communicate issues to CCO.
• Completion of the Credit Approval Request in compliance with Credit Policy in collaboration with the business development team member.
• Facilitate the effective hand over of new client to Account Executive servicing the facility including the identification of key risks and operating conditions. Coordinate internally and externally; including with third parties such as existing lenders, partner lenders, appraisers, outside counsel and industry consultants bringing in CCO at the appropriate time.
• Undertake project work as required by the company.
• Coordinate the initial funding of transactions including the closing/reconciliation of good faith deposits and the preparation of initial funding documentation along with primary and supplementary documentation.
• To ensure that best practice is both shared and implemented within the company.